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Gazeley

GLP announces a further 2.3M sq ft of speculative development in the UK

GLP, a leading investor and developer of logistics buildings and warehouses, has today announced plans to speculatively develop a further 2.3M sq ft of logistics warehousing space at strategic sites across the UK. The sites include: Mammoth 602 –a 602,000 sq ft logistics/warehouse unit at G-Park Doncaster situated directly off

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Gazeley to Adopt GLP Brand in Europe

GLP Completes Acquisition of Central and Eastern Europe Logistics Real Estate Portfolio The completion of the acquisition of Goodman Group’s CEE portfolio will strategically expand GLP’s European presence to 11 countries Gazeley today announces that it is adopting the GLP brand name following its acquisition by the global investment manager

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Gazeley to speculatively develop 745,000 sq ft plus mega shed

Gazeley is proposing to speculatively develop a 746,478 sq ft warehouse at its Magna Park Lutterworth scheme in the East Midlands subject to planning. The huge facility is one of four properties on a speculative scheme totalling 1.3 million sq ft being brought forward by Gazeley following its acquisition of

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Ex-Gazeley logistics veteran joins Glencar.

Further expansion signalled with appointment of well-known name Pat McGillycuddy. Glencar, an expanding construction company specialising in the industrial, logistics and distribution sectors has today announced the appointment of Pat McGillycuddy as Chairman. Pat McGillycuddy, a well-known name in the UK/European logistics real estate industry joins at the start of

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Latest Issue

BDC 319 : Aug 2024

Gazeley

GLP announces a further 2.3M sq ft of speculative development in the UK

GLP, a leading investor and developer of logistics buildings and warehouses, has today announced plans to speculatively develop a further 2.3M sq ft of logistics warehousing space at strategic sites across the UK. The sites include: Mammoth 602 –a 602,000 sq ft logistics/warehouse unit at G-Park Doncaster situated directly off junction 4 of the M18. 1m sq ft across 3 units of 200,000, 297,000 and 503,000 sq ft at Magna Park North, Lutterworth. 2 units of 117,000 and 140,000 sq ft at the new G-Park Milton Keynes development situated just one mile from junction 14 of the M1. 3 units of 26,000, 48,000 and 89,000 sq ft at the new G-Hub Crawley development strategically located for last mile logistics solutions. A 257,000 sq ft warehouse at G-Park Skelmersdale offering excellent access to M58 and M6 motorway. The units will each benefit from GLP’s best-in-class specification including wide service yards, significant HGV and car parking allocations, together with dock levelers, level access doors, increased natural light, electric vehicle charging and abundant power supply. Each development will be BREEAM Excellent, designed to WELL principles and feature a range of sustainability and energy efficiency measures that are designed to continuously improve GLP’s environmental aspirations. Bruce Topley, Managing Director, UK, GLP, said: “We are seeing continued strong customer demand for Grade A sustainable warehouse space in our market. This is primarily driven by the ongoing growth of ecommerce coupled with the need for supply chains to be improved further and significant supply constraints. These new developments are a response to that exceptional demand. “We are committed to investing in our portfolio and offering our customers as much choice and flexibility as possible to respond to their growth needs. We are also firmly focused on delivering buildings with less embodied carbon than industry standard and which reduce operational carbon emissions.”

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GLP LEASES 84,000 SQ FT UNIT AT G-PARK BIGGLESWADE TO FOCUS INTERNATIONAL

GLP, investor and developer of logistics warehouses and distribution parks, today announces that it has leased an 84,000 SQ FT unit at its G-Park Biggleswade site in Bedfordshire. The 84,000 SQ FT warehouse has been let to Focus International, part of the JD Sports Group. Focus will be utilising the warehouse space for bulk storage and pick-and-pack of their portfolio of brands including ellesse UK, Yogi Footwear, Nautica Competition, Peter Werth, Fenchurch, Henleys, Ecko and Starter and using additional office space so we can ensure staff have enough space to socially distance. G-Park Biggleswade comprises five units in total, including a 61,000 SQ FT unit leased to SeeWoo Foods earlier this year, and a 97,500 SQ FT build-to-suit distribution centre leased to Dublin-based Zeus Packaging. There is also a further 106,000 SQ FT speculatively developed warehouse which is currently available for lease. Each warehouse is designed to BREEAM Excellent and built to meet the evolving needs of GLP’s logistics, distribution and ecommerce customers in the UK. In addition to this best-in-class specification, the development benefits from Biggleswade’s strong labour pool and excellent transport links to central London and the South East. G-Park Biggleswade forms part of Stratton Business Park, which is home to a number of leading businesses from the packaging, distribution, food and manufacturing sectors as well as a retail complex including M&S, Pets at Home, Boots, River Island, and Halfords. Andrew Ward, Operations Director at Focus, said: “We are looking forward to working with GLP and joining other leading brands at G-Park Biggleswade. A solid infrastructure and efficient logistics system is key to the success of any business, and for Focus, this is especially important with several brands under our umbrella, and continued growth in Central Europe. The position is perfect for our business as it is placed on the A1 and just 43 miles from central London. We look forward to bringing new work opportunities to the area and making this the perfect base to continue to grow our Focus brands. The last few months have been extremely challenging for retail with the global pandemic, so we’re pleased to make this positive move, eventually employing 40+ people in the area as we continue to drive future development.” James Atkinson, Development Manager at GLP Europe, said: “This development, which completed in January of this year, highlights GLP’s ongoing commitment to offering high quality space for our customers in established logistics locations. The built-to-suit logistics warehouses on site illustrate the strength of occupier demand in the area and we have responded by speculatively developing a range of different-sized units to maintain flexibility for our customers. We look forward to working with Focus International for the first time and are pleased with the success of this development so far, with only one unit now remaining to let.” A Central Bedfordshire Council spokesperson said: “We negotiated the sale of the Stratton Phase 4 land to GLP in early 2018 and have since been impressed with the quality and speed of delivery that GLP have orchestrated. “The addition to the existing business park of five high quality buildings, at pace, has attracted new businesses to Biggleswade and provided a significant boost to job creation in the town and beyond. “The development of G Park has helped reinforce Stratton Business Park as a key business location in the region.” Adroit Real Estate Advisors, BNP PRE, and CBRE acted for GLP.

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Gazeley to Adopt GLP Brand in Europe

GLP Completes Acquisition of Central and Eastern Europe Logistics Real Estate Portfolio The completion of the acquisition of Goodman Group’s CEE portfolio will strategically expand GLP’s European presence to 11 countries Gazeley today announces that it is adopting the GLP brand name following its acquisition by the global investment manager in 2017. In addition, GLP announces that it has closed on the acquisition of Goodman Group’s Central and Eastern Europe logistics real estate portfolio. GLP currently has US$7 billion of assets under management across the UK, Germany, France, Spain, Italy, Poland and the Netherlands. The addition of this unique, high-quality portfolio spread across Poland, Czech Republic, Slovakia and Hungary expands GLP’s European presence to 11 countries placing it within a select number of logistics real estate investors with a truly pan-European platform. Nick Cook, President, GLP Europe, said: “Since entering the market in 2017, GLP has strategically expanded its presence across Europe to meet investor demand and support its disciplined pan-European growth strategy. We believe attractive macroeconomics, urbanisation, e-commerce growth and proximity to major distribution hubs across Europe are helping to drive Central and Eastern Europe’s logistics real estate market.” The acquired portfolio is concentrated on key logistics routes across the region with access to growing markets for e-commerce and distribution. It will bring a number of new customers into the business and allow it to better support existing customers with their expanding supply chain requirements across Europe. To support the acquired portfolio and the Company’s growth in the region, Goodman Group’s Central and Eastern European local teams will join GLP’s European business. Over the last 30 years, Gazeley has built a strong reputation as one of the leading investors and developers of logistics warehouses across Europe. Initially starting as a merchant developer as part of Walmart, the business has expanded its presence across the UK and subsequently Europe under several ownership structures. Since GLP acquired Gazeley in 2017 to enter the European logistics real estate market, the European business has doubled in size from an AUM, geographic footprint and people perspective, strengthening the team with several significant and strategic hires along the journey. By fully embracing what it means to be GLP, the business is uniquely placed to stay ahead of the market by opening up new opportunities, smarter innovations and accessing a larger global network. While the change will bring a number of benefits, it won’t change the values or how the company operates. The goal is to enhance its offer, simplify its communications and deepen the relationships that have been built. Nick Cook, President, GLP Europe, said: “Since we became part of GLP in 2017, we have experienced unprecedented growth not only in our existing markets, but we entered six new countries. Adopting the GLP name is a natural evolution for the business as we look to continue this expansion. GLP’s name is synonymous with forward-thinking, technology-led logistics real estate and this change reflects our commitment to using that expertise combined with our local market knowledge to enhance our offering in Europe. We are better together, and stronger than ever” “We also look forward to welcoming our new colleagues to the team who will be critical in helping us expand our reach in Europe and beyond. The completion of this transaction is symbolic of our recent growth and ambitions for the next period. I’m proud to have been part of Gazeley journey and look forward to taking the business forward in its next chapter as GLP.” Kirkland & Ellis served as legal counsel to GLP, with Greenberg Traurig and Kinstellar providing local legal advice. Cushman & Wakefield served as advisors to GLP and Goldman Sachs and Citi have committed to finance the acquisition.

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GAZELEY LEASES 186,000 SQ FT UNIT AT MAGNA PARK LUTTERWORTH TO BLECKMANN

Gazeley, a leading investor and developer of logistics warehouses and distribution parks, today announces the lease of a 186,000 SQ FT unit at its Magna Park Lutterworth site to Bleckmann, a market leader in Supply Chain Management (SCM) services for the fashion and lifestyle brands. The unit has been leased on a long term lease and will serve as Bleckmann’s new distribution centre in the UK. Tornado 186 is a 186,000 SQ FT unit and has been designed to include a range of leading sustainability features, including online energy dashboards to help customers monitor energy usage, as well as rainwater harvesting and technology to optimise the use of natural light. Magna Park Lutterworth is the UK’s first and Europe’s largest dedicated logistics and distribution park. It is currently undergoing development to expand the park from 9 million SQ FT of floor space to nearly 16 million SQ FT in the coming years. Gazeley is also developing a series of new amenities, including wellness and recreation facilities as well as the new Logistics Institute of Technology (LIT). Magna Park, Lutterworth benefits from excellent transport links to the rest of the UK, with 59.3 million people, or 85% of the UK population, within a four hour drive of the development as a result of its easy access to the M1, M6 and M69 motorways. Joe Garwood, Development Director, Gazeley, said: “We are delighted to announce Bleckmann as the newest member of our customer community and look forward to growing our partnership with them in the years to come”. Situated in the heart of the “UK’s Logistics Golden Triangle”, Magna Park Lutterworth is an iconic development, ideally suited to serve the fast-expanding supply chain operations of today’s distribution companies. Four further units on our Magna Park South Lutterworth comprising 746,000 SQ FT, 300,000 SQ FT, 126,000 SQ FT and 98,000 SQ FT will be available for occupancy in Autumn 2020.”

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Gazeley to speculatively develop 745,000 sq ft plus mega shed

Gazeley is proposing to speculatively develop a 746,478 sq ft warehouse at its Magna Park Lutterworth scheme in the East Midlands subject to planning. The huge facility is one of four properties on a speculative scheme totalling 1.3 million sq ft being brought forward by Gazeley following its acquisition of a 220-acre tranche of land from DB Symmetry, known as Magna Park South. In a planning statement regarding the new mega shed and the intention to raise its external eaves height to 21m, Gazeley said it wished to “proceed as swiftly as possible following a grant of planning permission” on the scheme. A spokesperson for Gazeley said: “Having received outline planning permission for the broader expansion of Magna Park, we can confirm that we have submitted a Reserved Matters application for four new buildings at Magna Park Lutterworth. We have seen strong levels of customer demand for space at Magna Park Lutterworth and this application is a response to that demand. We look forward to working with the Council and other stakeholders in the coming months to bring forward this exciting development.” The new cross-dock mega shed will boast 18m eaves, 100 dock and eight level access doors and will have parking for 557 cars and 150 trailers on a 31-acre site. As usual with Gazeley it will also include a host of sustainability features and will reach BREEAM Excellent. The last time such a large warehouse was built speculatively in the UK was in 2005/6 when HelioSlough, a joint venture between Slough Estates – now SEGRO – and Helios Properties, built the 750,431 sq ft Nimbus warehouse in Thorne, near Doncaster, South Yorkshire. The scheme was forward funded to the tune of £42 million by CBRE Investors and was originally let to DHL/MFI on a ten-year lease at an annual rent of £3.075 million in 2007. The cross dock property has 15m eaves as well as 75 dock and 13 level access doors. Following the collapse of MFI, the property was relet to The Range on a £20 year lease at a rent believed to be around £4 per sq ft with five yearly rent reviews. It was sold to Tritax Big Box REIT for £48.5 million, reflecting a net initial yield of 6.1% on the asset acquisition, assuming 5.8% purchase costs. The new speculative mega shed is being constructed on a 220-acre plot of land bought by Gazeley to the south of Magna Park Lutterworth from Tritax Symmetry. This is allowing Gazeley to create what is considered the largest dedicated logistics park in Europe in one ownership. The combination of all three sites Magna Park, Magna Park North and Symmetry Park – now known as Magna Park South – totals some 1,360 acres and could eventually have 15.8 million sq ft of buildings. DTRE and Burbage Realty are advising.

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Ex-Gazeley logistics veteran joins Glencar.

Further expansion signalled with appointment of well-known name Pat McGillycuddy. Glencar, an expanding construction company specialising in the industrial, logistics and distribution sectors has today announced the appointment of Pat McGillycuddy as Chairman. Pat McGillycuddy, a well-known name in the UK/European logistics real estate industry joins at the start of July following over 30 years at the helm of leading European Logistics developer Gazeley.  At Glencar, Pat will work together closely with co-founders Edward McGillycuddy and Chris Gleave to spearhead the company’s further expansion and reinforce the customer service ethos that was the basis of many successful programmatic partnerships in his previous roles. Speaking about his appointment, Pat McGillycuddy said: “Glencar has traded successfully for three years and is growing at a steady rate.  Eddie and Chris have an outstanding pedigree in the management and delivery of large-scale industrial developments throughout the past twelve years.   Over the past three years they have grown Glencar’s capability steadily on several industrial projects. We are very firmly committed to a strong customer service ethos as the basis for building strong partnerships with our customers and supply chains.  We believe that this enables better service and ensures the same consistent level of quality and service is delivered right across our operations.  I look forward to developing upon that further and supporting Glencar’s continuing expansion”. Glencar Managing Director, Eddie McGillycuddy also went on to say “From years of construction industry experience, we knew there was a better way to do things and that’s what we have set out to achieve with Glencar.  Our clients, partners and suppliers tell us they are feeling the benefits of our proactive and diligent approach and we will work hard to continue to build and improve on the excellent standards which we have already set ourselves.   We look forward to welcoming Pat into the business and benefitting from his years of knowledge and abundant experience.”

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